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Goodbye to the Dollar

posted by martyb on Tuesday February 05 2019, @04:31AM   Printer-friendly
from the hello-ruble dept.

An Anonymous Coward writes:

https://www.truthdig.com/articles/goodbye-to-the-dollar/

The inept and corrupt presidency of Donald Trump has unwittingly triggered the fatal blow to the American empire—the abandonment of the dollar as the world’s principal reserve currency. Nations around the globe, especially in Europe, have lost confidence in the United States to act rationally, much less lead, in issues of international finance, trade, diplomacy and war. These nations are quietly dismantling the seven-decade-old alliance with the United States and building alternative systems of bilateral trade. This reconfiguring of the world’s financial system will be fatal to the American empire, as the historian Alfred McCoy and the economist Michael Hudson have long pointed out. It will trigger an economic death spiral, including high inflation, which will necessitate a massive military contraction overseas and plunge the United States into a prolonged depression. Trump, rather than make America great again, has turned out, unwittingly, to be the empire’s most aggressive gravedigger.

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  • (Score: 1, Insightful) by Anonymous Coward on Tuesday February 05 2019, @01:17PM (4 children)

    by Anonymous Coward on Tuesday February 05 2019, @01:17PM (#796644)

    I live in one one of the liberal utopias. Not a republican in sight. Taxes are collected under the threat of fines and jail time. What I get back for them is.... roads (and maybe some forest preserves). Social contract, I never signed it. Seems to read: Give us your money and we'll give others a bunch of shit that doesn't apply to you. When you do need some help the government gives the run around for some crumbs unless you've got 50 kids.

    So why would I go back to school (ah yes, part of that was free when I wasn't contributing a thing), when school taught me the critical thinking to see I've got a devil's bargain. Take your "society" and ship it back to amazon, I don't want it.

    Starting Score:    0  points
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  • (Score: 4, Insightful) by Anonymous Coward on Tuesday February 05 2019, @03:09PM

    by Anonymous Coward on Tuesday February 05 2019, @03:09PM (#796688)

    I live in one one of the liberal utopias. Not a republican in sight. Taxes are collected under the threat of fines and jail time. What I get back for them is.... roads (and maybe some forest preserves). Social contract, I never signed it. Seems to read: Give us your money and we'll give others a bunch of shit that doesn't apply to you. When you do need some help the government gives the run around for some crumbs unless you've got 50 kids.

    So why would I go back to school (ah yes, part of that was free when I wasn't contributing a thing), when school taught me the critical thinking to see I've got a devil's bargain. Take your "society" and ship it back to amazon, I don't want it.

    Sounds like you have a raw deal where you are. There are many places where you can go that don't have good tax enforcement records [weforum.org]. Guyana and Chad are at the top of the list. Hopefully you can tell us about how happy you are from an internet cafe in Georgetown or N'Djamena.

    Have a nice trip. See you next fall!

  • (Score: 0) by Anonymous Coward on Tuesday February 05 2019, @09:59PM (1 child)

    by Anonymous Coward on Tuesday February 05 2019, @09:59PM (#796929)

    [Starts out with]...I live in one one of the liberal utopias...[then quickly leaps off the rails]

    Who the hell upmodded this as "Insightful"? Is someone actually brave enough to step forward and justify that upmod? Seriously, who modded this libertarian drivel up? Hell, I feel dumber just for having read the damn thing!

    • (Score: 0) by Anonymous Coward on Wednesday February 06 2019, @02:24AM

      by Anonymous Coward on Wednesday February 06 2019, @02:24AM (#797017)

      I feel dumber just for having read the damn thing!

      You're saying that your feelings lag behind reality?

  • (Score: 0) by Anonymous Coward on Wednesday February 06 2019, @07:11AM

    by Anonymous Coward on Wednesday February 06 2019, @07:11AM (#797089)

    FatPhil neglected to inlcude a link [soylentnews.org] to information about [wikipedia.org] Rousseau's fine work, The Social Contract [constitution.org].

    Don't go back to school. I'm sure that won't make anyone happy.

    However, I do recommend reading the above, as it will diminish your ignorance and, hopefully, help you not look like an idiot in forums like this.

    Toodles!